Variable | Variable interpretation |
TFP | For full productivity, see the variable design for the specific explanation. |
SGR | Sustainable growth rate, see variable design. |
IPG | The relative value of the internal compensation gap between executive and employee is explained in the variable design. |
Overipg | The internal compensation gap is too large, and the difference is larger than expected, otherwise 0. See the model (6) for specific calculation. |
ESOP | ESOP, the company implementing the ESOP is 1, otherwise 0. |
Wage | The average salary of the total employee is equal to the natural log of the average salary of the total employee. |
Employee | The number of employees is equal to the number of employees. |
Size | The size of the company is equal to the natural log of the total assets at the end of the year |
First | Equity concentration is equal to the ratio between the largest shareholder among the top ten shareholders and the other nine shareholders |
Lev | Asset-liability ratio, the ratio of other total assets to total liabilities |
ROA | Operating performance, equal to the final net profit divided by the average total assets |
State | The nature of enterprises, state-owned enterprises take 1, non-state-owned enterprises take 0 |
West | If the virtual variable in the region where the enterprise is located, the listed company is registered in Shaanxi, Chongqing, Guizhou, Yunnan, Sichuan, Gansu, Ningxia, Qinghai, Xinjiang, Tibet, etc., West or 0 |
Mid | If the virtual variable of the enterprise is registered where the listed company is Henan, Shanxi, Hubei, Anhui, Hunan, Jiangxi, etc., Mid is 1, otherwise it is 0 |
Sop | Whether the chairman and the general manager are the same person, the same person takes the value of 1, otherwise it is 0. |
Industry | Industry virtual variables |
Year | Virtual Variables of the Year |